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BMW i Ventures invests in blockchain company Vendia’s Series B

BMW i Ventures has invested in Vendia’s $30-million Series B funding round after having invested in Vendia’s Series A in 2021. The round was led by NewView Capital, with new investment from the Neythri Futures Fund, Operator Partners, and Lux Capital. The funding also includes additional investment from Neotribe Ventures, Aspenwood Ventures, Sorenson Capital, Canvas Ventures, in addition to the investment from BMW iVentures. This latest round brings Vendia’s total funding to $50 million.

Vendia is bringing the combination of blockchain and serverless computing to companies in the Web3 era. Vendia’s platform provides a secure way for corporations to share vast amounts of data across applications, data stores, clouds, geographies, tech stacks, and partners in an efficient and scalable way, while maintaining a single source of truth for the data across all parties.

Historically, businesses have had to rely on multi-party supply chains across various industries, yet they haven’t been provided with a single source of truth for workloads without retaining the independence of each party’s IT operations. This has made it difficult for these businesses to ensure consistent quality from existing partners and to onboard new ones.

Vendia offers a unique platform solution for businesses that depend on a multitude of partners, providing them with the ability to onboard partners swiftly, and enabling them to share data with full control and confidence that such data would not be overwritten or manipulated. This applies to the automotive sector in particular, and we’re excited to continue working with Vendia as they usher in the next generation of blockchain to facilitate collaboration across corporate partners.

—Kasper Sage, Managing Partner at BMW i Ventures

Unlike companies created solely for data analytics workloads, Vendia is designed for operational, real-time data sharing. Vendia is the only company that combines serverless blockchain and Smart APIs in one solution, providing a single source of truth for data across cloud and parties while also allowing for high throughput transaction processing at scale.

Vendia’s signature product, Vendia Share, helps organizations accelerate time to market without worrying about infrastructure or relying on Central IT, as well as empowers developers to focus on innovation by eliminating undifferentiated heavy lifting and ongoing maintenance costs. Vendia Share achieves all of this while remaining fully compliant with company and industry regulations at all times.

Vendia allows data to be collected via a mobile application at each inspection point in the supply chain. The media files and associated inspection information are stored on Vendia’s multi-party database. Once entered, the data is immutable which is crucial for ensuring mutual trust amongst the involved parties.

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